XML 31 R21.htm IDEA: XBRL DOCUMENT v3.22.4
Segment Information
 9 Months Ended
Nov. 30, 2022
Segment Reporting [Abstract]  
Segment Information
Note 14 - Segment Information
As of November 30, 2022, we operated three reportable segments consisting of Home & Outdoor, Health & Wellness and Beauty. During the fourth quarter of fiscal 2023, we made changes to the structure of our organization in connection with our global restructuring plan (as further described in Note 8) that resulted in the Health & Wellness and Beauty operating segments being combined into a single reportable segment, which will be referred to as “Beauty & Wellness.” In connection with these organizational structure changes, corresponding changes were made to how our business is managed, how results are reported internally and to how our CEO, our chief operating decision maker, assesses performance and allocates resources. We believe that these changes better align internal resources and external go to market activities in order to create a more efficient and effective organizational structure. There were no changes to the products or brands included within our Home & Outdoor reportable segment as part of these organizational changes nor to the way in which our CEO assesses performance and allocates resources for the Home & Outdoor segment. Therefore, beginning with our fiscal 2023 Form 10-K, our future disclosures will reflect two reportable segments, Home & Outdoor and Beauty & Wellness, and we will recast the prior period segment information to conform to the change in the composition of these reportable segments. Accordingly, our external reportable segments will continue to align with our internal reporting to enable users of the financial statements to better understand our performance, better assess our prospects for future net cash flows, and make more informed judgements about the Company as a whole.
The following tables summarize segment information for the periods presented:
Three Months Ended November 30, 2022
(in thousands)Home & OutdoorHealth & WellnessBeautyTotal
Sales revenue, net$228,937 $180,483 $149,186 $558,606 
Restructuring charges5,090 2,893 2,480 10,463 
Operating income30,847 21,257 25,089 77,193 
Capital and intangible asset expenditures28,788 3,830 941 33,559 
Depreciation and amortization4,716 3,446 3,551 11,713 

Three Months Ended November 30, 2021
(in thousands)Home & OutdoorHealth & WellnessBeautyTotal
Sales revenue, net$246,135 $203,900 $174,849 $624,884 
Restructuring charges— — 5 5 
Operating income 43,239 13,573 33,228 90,040 
Capital and intangible asset expenditures16,159 633 783 17,575 
Depreciation and amortization2,894 2,529 3,218 8,641 

Nine Months Ended November 30, 2022
(in thousands)Home & OutdoorHealth & WellnessBeautyTotal
Sales revenue, net$703,759 $529,930 $354,395 $1,588,084 
Restructuring charges5,562 6,447 3,232 15,241 
Operating income102,722 12,505 42,851 158,078 
Capital and intangible asset expenditures133,939 8,269 3,986 146,194 
Depreciation and amortization13,704 9,279 10,347 33,330 

Nine Months Ended November 30, 2021
(in thousands)Home & OutdoorHealth & WellnessBeautyTotal
Sales revenue, net$654,997 $549,475 $436,863 $1,641,335 
Restructuring charges369 — 11 380 
Operating income 112,303 29,616 80,247 222,166 
Capital and intangible asset expenditures36,196 3,613 1,720 41,529 
Depreciation and amortization8,257 7,879 9,946 26,082 

The following table presents net sales revenue by geographic region, in U.S. Dollars:
Three Months Ended November 30,Nine Months Ended November 30,
(in thousands)2022202120222021
U.S. sales revenue, net$410,832 73.5 %$496,666 79.5 %$1,170,349 73.7 %$1,271,102 77.4 %
International sales revenue, net147,774 26.5 %128,218 20.5 %417,735 26.3 %370,233 22.6 %
Total sales revenue, net$558,606 100.0 %$624,884 100.0 %$1,588,084 100.0 %$1,641,335 100.0 %